Advanced Financial Applications (AFA), a leading strategic vendor of technology solutions to buy and sell side firms, today announced the third in a series of strategic moves, designed to enhance the companyâs value to clients.
AFA will now offer, through an agreement with Indii.com, an instant message chat capability tied to Indications of Interest. The Indii capability will be delivered on AFAâs IMPACT Proâ¢ platform via the internet, and will enhance client communications and the dissemination of information.
IMPACT Proâ¢ enables the buy side and hedge fund communities to achieve integrated order processing, including both EMS and OMS capability, on a single platform. Whether sourced directly or through a sponsoring broker-dealer, IMPACT Proâ¢ offers broker-neutrality as an execution management system, coupled with OMS functionality such as seamless trade allocation and multi-prime broker access for processing trading files.
AFAâs broker-neutral application currently allows AFAâs buy side clients to access multiple brokers for best execution. However, the agreement with Indii now enhances AFAâs execution management offering. In addition to the electronic trading capability currently offered in AFAâs application, AFAâs buy side clients will now receive Indications of Interest (IOIs) and advertised trades from their brokers. This functionality will also include filtering capability (sector, preset lists, blotter, holdings, and portfolio) which updates automatically as well as trade volume updates. The offering provides a true picture of which brokers are active in a particular stock. By offering Indiiâs solution through IMPACT Proâ¢, AFA enhances the interactivity between its buy side clients and their brokers while maintaining work flow efficiency.
The Indii solution offers sell side firms increased reach to and enhanced communications with their buy side counterparts. Institutional responses to IOIs can be viewed in real time, and messages to buy side clients can be customized.
AFAâs goal is to provide a suite of integrated technology solutions designed to help clients manage and grow their business. This latest announcement reflects AFAâs commitment to its clients and a move to expand the Companyâs position in the marketplace. The planned move also further reflects the organic evolution of AFA from its previous position as a provider of an integrated order processing solution to a strategic vendor.
In October 2006, AFA recruited Patrick Lynch as CEO. As the firm moves forward, Lynch is examining both opportunities for growth and is simultaneously aligning the company to its clientsâ strategies.
Said Patrick Lynch, AFAâs CEO: âWe have consistently said that 2007 is a critical year for the industry, and AFA will play an important role in enabling both the buy and sell sides to grow by leveraging our expertise and technology. We are in the business of using technology to leverage costs, streamline trading, and increase alpha for the buy side while assisting the sell-side in enhancing their ability to communicate with AFAâs buy-side clients. Our agreement with Indii now broadens our execution management capability and expands the flexibility of our trading solution while increasing trading efficiency.â